MARKETING MANAGEMENT

Business usually prevails in our day-to-day life and for more potential growth in the market, all kinds of organizations are very much dependent on the promotion of their products. For such a task every firm usually requires professionals with sales or marketing background. Marketing is a business discipline which is mainly focused on the application of marketing techniques and administrating the organizations for marketing resources. In simple words, marketing is the method which involves convincing people about a product / concept using different ideas and thus help the business grow.

Marketing with its sub functions like advertising, distributing and selling of a product is regarded as the most important element in the growth of any company. Marketing / Sales Management involves the study of marketability of the product involved and the measures to enhance sales and implementing the same. Even though the term marketing has been derived from its initial word 'market', it is the place where transactions between buyers and sellers occur, it is much more than the original meaning. It is a well planned process of exchange between the customers and the sellers. A marketing process consists of four major Ps; i.e Product, Pricing, Placement and Promotion.

Marketing personnel are the main professionals appointed by the company for convincing the clients and make them buy a product that the business offers. They are the people who create brands and promote their products and services. Sales and Marketing are two of the ever flourishing career sectors in the world and those having a knack for convincing people can find excellent job openings in this field. Not much specific qualification is required to enter the field, but a managerial position in marketing requires MBA graduates preferably with marketing as the specialized area. Success in this profession depends on ones marketing skills, which include communication, tact, creativity, stress and time management.




Marketing and Sales Management is one of the most sought after careers, and ample job opportunities are available in this field with the emerging number of multinational and national companies. The marketing field today is very much competitive and only skilled person could make a successful career. Marketing managers are personnel who take care of sales, marketing, product promotions, advertisement and public relation of a firm or organization. Their major tasks involve market research, product development, promotion, pricing, sales and distribution. The people who develop detailed marketing strategies, analyze the demand of the company's products and services in the market, they would usually identify the competitors and potential markets and handle customer management.

They are responsible to ensure customer satisfaction and also to achieve the business goal or target of an organization. They should always be alert, keep an eye on the changing marketing activities and make plans accordingly and should develop new ideas and strategies for the products. Marketing management is such a profession that offers a number of opportunities in various fields. Graduates can start off mainly as their career as marketing executive and depending on their skills and experience within a couple of months or years, they could reach the post of Marketing manager. From this post one has as an immense opportunity to climb the ladder and occupy the top most positions in the company. A well-qualified MBA graduate would be offered positions such as marketing manager, brand manager, market research analyst,new product manager, sales manager, advertising manager, PR (public relations) director, etc.



Small companies, big corporates, government and non government organizations, consultancies, public relation agencies all offer a wide range of opportunities for marketing professionals. Advertising, sales, management, creative writing for product promotion, etc are the areas of work involved. Oppurtunities are also available in departmental stores, computer companies, utility companies, construction firms, food producers, manufacturing firms and arts organizations. One could also establish their own consultancy, that gives advice and suggestions for the organizations regarding marketing or can start their own advertising agencies. Most Business schools teach sales and marketing management as a part of the MBA curriculum.

Graduates in any discipline can apply for the two year MBA programme with specialisation in marketing. Admission is based on written examination followed by group discussion and personal interview. CAT, MAT, XAT, JMET, ATMA are some of the management entrance test conducted by the institutes like Indian Institute of Management (IIM), All India Management Aptitude Testing Service (AIMATS), New Delhi, Xavier Labour Research Institute, Jamshedpur (XLRI), Indian Institute of Technology (IIT) and Association of Indian Management Schools (AIMS). Even though these exams are conducted by the respective institutes for their admission, its scores are widely accepted by many of the Indian Business Schools.

MAT exams are conducted 4 times a year while all the others are held once in a year. There are certain other and able Business schools and universities who conduct their own entrance test and some of these include National Management Aptitude Test (NMAT), Symbiosis National Aptitude (SNAP) Test, Open Management Admission Test (OPENMAT) by Indira Gandhi National Open University (IGNOU), Written Admission Test (WAT), IBSAT, CEMAT, etc. All these exams follow the same syllabus and students can attempt 2 or 3 of these tests, so that they can apply to multiple institutes. Some institutes offer executive MBA programme in Sales and Marketing which require certain years of experience. Besides MBA programmes, BBA (Bachelor in Business Administration) or BBM (Bachelor in Business Management) degree holders can also have openings in the field of marketing. The diploma course, and even the PGDMCM (Post Graduate Diploma in Marketing Communication Management) also make the students professionally qualified in the fields of marketing, advertising, Entertainment, Brand management, etc.

Marketing Management Accounting principles, business laws, buyer behavior, economics, human motivation and behavior, statistics, principles of marketing, marketing research, production management, psychology are some of the subjects taught for marketing management courses. The rapid growth of globalization has increased the number and significance of MNC's which in turn increase the mobility of people. Working for MNC's is a challenging task. A prior knowledge about Marketing is a must.

For a successful career in the field of sales and marketing certain personal skills are needed. Understanding the product well is the major thing one should look into when he enters the field of marketing. One should be very tactful when dealing with clients and be patient and possess keen business expertise. Good leadership quality, communication skills, ability to motivate and work as part of a team, ability to understand and solve problems are the needed attributes. Quick thinking and the ability to come up with new ideas are advantageous. Meeting the target is a big criteria and for that time management is very essential. A marketing manager must be self confident and always be updated with the current affairs and be familiar with advertising and merchandising techniques. Working for long hours under hectic work pressure is not a new thing in this profession. Sometimes the job of a marketing manager demands lot of travelling, be prepared for that. Good computer knowledge especially in softwares like Excel and Power Point is an added advantage for this profession. According to American Marketing Association (AMA) marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." The term marketing applies not only to private business firms but also to almost all other organizations such as government, social service institutions, NGO's, etc.



Marketing management is a well-paid profession. Apart from the salary, marketing personnel are offered high incentives for meeting their targets. A marketing executive with MBA degree from a good business school may get nothing less than 3 to 3.5 lakh as annual income. An experienced one could take home easily an annual income of 5 lakh. The senior most positions could get more than that depending upon the organization and their experience. Most of the companies will also meet travel allowances for executives who do field work. Even though the basic payment in small companies may be less than that of big corporates, they offer good incentives to the employees.